Bitcoin’s value relative to Gold (XAU) is facing a potential 35% drop due to historical bear market signals and reacting to the massive turbulence that wiped out $13 trillion from the US stock market. The BTC/XAU ratio closed below its 50-period exponential moving average (50-period EMA) on the two-week chart, signaling a possible extended downtrend towards the 200-period EMA. This pattern, seen in both 2021 and 2022, suggests a move towards the 200-EMA, indicating a significant drop. Bloomberg Intelligence’s senior commodity strategist, Mike McGlone, also predicts a downside for the Bitcoin-to-Gold ratio due to its strong correlation with the US stock market. This trend is historically bearish for Bitcoin’s price in USD, as observed in previous cycles. If the correlation between BTC/XAU and BTC/USD holds, Bitcoin might decline towards its 200-week EMA, currently near $50,950, by the end of the year. It is important to note that this article does not provide investment advice, and readers should conduct their research before making any decisions.